Production

10/22/2012

Halcon Resources (NYSE:HK) announced the purchase of
additional leasehold in the Williston Basin prospective for the Bakken and
Three Forks formations.

Halcon Resources is buying 81,000 net acres for $1.45
billion in total consideration, with $700 million in cash and $750 million in equity. The equity will be preferred stock that will
automatically convert into common stock at $7.45 per share after the company
authorizes additional common shares and obtains regulatory approval.

Halcon Resources said the acreage is mostly in Mountrail, Williams,
McKenzie and Dunn Counties, North Dakota and will boost its lease hold to
135,000 net acres. The properties have
proved reserves totaling 42.4 million barrels of oil equivalent (BOE) and
current production of 10,500 BOE per day from the Bakken and Three Forks
formations,

Halcon Resources also announced an investment from the Canada
Pension Plan Investment Board of $300 million of common stock at $7.16 per
share.

09/20/2012

Denbury Resources (DNR) is abandoning the Bakken play and has agreed to sell
its assets here to Exxon Mobil (XOM) for $1.6 billion in cash and Exxon
Mobil’s interests in two onshore oil and gas fields.

Denbury Resources said that the Webster Field in Texas
and Hartzog Draw Field in Wyoming
are suitable candidates for tertiary recovery efforts using carbon
dioxide. The company also intends to
purchase an interest in Exxon Mobil’s carbon dioxide reserves in the LaBarge
Field in Wyoming.

Denbury Resources reported proved reserves of 96 million barrels of oil
equivalent (BOE) in the Bakken at the end of 2011. These reserves were 84% composed of crude oil
and natural gas liquids. The company reported
average production of 15,400 BOE per day from the Bakken in the first six
months of 2012.

08/24/2012

QEP Resources (QEP) has acquired additional acreage in the
Williston Basin through an acquisition thus increasing the company’s leverage
to the Bakken and Three Forks play.

QEP Resources announced the acquisition of two separate
agreements to purchase 27,600 net acres at a cost of $1.38 billion. This will increase the company’s total
exposure to 118,000 net acres. The oil
and gas properties have undeveloped and developed acreage as follows:

Net production 10,500 barrels of oil equivalent (BOE)
per day

Net proved and probable reserves of 125 million BOE,
with 90% composed of crude oil and natural gas liquids.

Acreage
is in North Dakota (Williams and McKenzie county)

QEP Resources reported that the average estimated ultimate
recovery (EUR) is 1.16 million BOE for Bakken wells and 990,000 BOE for Three
Forks wells. The company estimates that the acquired acreage has 146 net
undeveloped locations that can be developed at a cost of $1.59 billion. QEP Resources will fund the purchase with
cash on hand and its revolving credit facility.